This item was published during the term of a previous administration that ended in April 2007
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Rise in house prices
18/11/2005
The average price for a residential property in Scotland increased by 7.6 per cent in the last quarter (July to September 2005) and is now £126,538, according to figures released today by Registers of Scotland.
This compares with a figure of £117,626 in the previous quarter (April to June 2005) and represents an increase of 7.1 per cent over the same quarter last year.
The highest figure is again in the Lothian region, where the average price for properties registered is £165,613, an increase of 7.8 per cent compared to the last quarter and up 5.8 per cent on the same quarter the previous year.
The highest year-on-year increase, at 12.8 per cent, is in the Highlands and Islands area, where the average house now sells for £122,294.
The Glasgow area remains the largest market with sales of a little under £1.6 billion for the period, which is an increase of over £316 million or 24.8 per cent over the same period last year.
The total value of sales across Scotland registered during the quarter is over £5 billion equating to an increase of £737 million or 17.1 per cent over the same quarter last year.
These figures include residential sales for cash, where there is no mortgage, which occurs in more than 20 per cent of transactions.
House Prices In Scotland| Region | Jul-Sep 2004 | Jul-Sep 2005 | Percentage increase |
|---|
| Central | 103,057 | 115,607 | 12.2 |
| Grampian | 107,490 | 120,883 | 12.5 |
| Highlands and Islands | 108,427 | 122,294 | 12.8 |
| Lothian | 156,539 | 165,613 | 5.8 |
| Scottish Borders | 128,192 | 135,290 | 5.5 |
| South West Scotland | 100,939 | 109,935 | 8.9 |
| Glasgow area | 112,919 | 119,000 | 5.4 |
| Unallocated* | 140,108 | 144,623 | 3.2 |
| SCOTLAND | 118,141 | 126,538 | 7.1 |
*Unallocated sales are those which could not be accurately located in a local authority area.
This is the tenth in a series of quarterly reports tracking the movement of property prices in Scotland and the focus is on the activity in seven broad geographic regions across the country. The method of calculating the figures has been independently audited to ensure that the information is accurate and comprehensive.